Marine infrastructure company Orion (NYSE:ORN) missed analysts’ expectations in Q2 CY2024, with revenue up 5.3% year on year to $192.2 million. It made a GAAP loss of $0.20 per share, down from its loss of $0.01 per share in the same quarter last year.
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Orion (ORN) Q2 CY2024 Highlights:
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Revenue: $192.2 million vs analyst estimates of $199 million (3.4% miss)
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Adjusted EBITDA: $5.5 million vs analyst estimates of $9.6 million (large miss)
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EPS: -$0.20 vs analyst estimates of -$0.02 (-$0.18 miss)
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Gross Margin (GAAP): 9.5%, up from 7.6% in the same quarter last year
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Free Cash Flow was -$19.97 million compared to -$24.68 million in the previous quarter
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Market Capitalization: $390 million
“In the second quarter, we generated revenue of $192.2 million and Adjusted EBITDA of $5.5 million. As previously…
